Goldman-backed Starling says no plans to pursue EU bank license, expansion to come from software
AMSTERDAM — Digital bank Starling will not re-apply for a European Union banking license and instead pursue international expansion through its software business, the incoming CEO said, in a diverging approach to overseas growth from some of its rivals. Starling is among the U.K.’s breed of so-called “neobanks” — digital-only banks that usually have no […]
UK’s Auto Trader shares hit record high as used car demand boosts profit
Shares of UK’s Auto Trader (AUTOA.L), opens new tab climbed more than 13% to a record high on Thursday after the company posted a bigger annual operating profit thanks to healthy demand for used cars. The stock was set for its biggest one-day gain in two-and-a-half years and was the top gainer on London’s blue-chip FTSE 100 (.FTSE), […]
The euro zone’s fragmented banking industry
Supporters for more consolidation in the euro zone’s banking sector have been watching Spanish lender BBVA (BME:BBVA)’s hostile bid for Sabadell, alongside comments from some supervisors and lawmakers supporting the idea of more tie-ups. Regulators are keen for more consolidation – both within and across countries – because they believe fewer, stronger lenders will boost […]